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Tuesday, April 24, 2018

Alstom News

Mitsubishi Mulls Stake in Alstom

Nuclear steam turbine rotor (Photo: Alstrom)

Japan's Mitsubishi Heavy Industries is considering taking a direct stake in French engineering group Alstom as part of an offer with Germany's Siemens, two French newspapers said on Thursday. Financial daily Les Echos said Mitsubishi is considering buying part of French Bouygues's 29 percent stake in Alstom and would also buy Alstom's steam turbines while Siemens would take over its gas turbines. At a later stage, after an expected offer for Alstom on June 16, Siemens would contribute its transport assets to Alstom…

ALSTOM Supplies Electric Propulsion Systems Two New Cruise Ships

ALSTOM Power Conversion has been selected by Princess Cruises and Nagasaki Shipyard & Machinery Works, Mitsubishi Heavy Industries, Ltd. to supply electric propulsion systems for two Grand Class cruise ships. in big cruise ships, made ALSTOM an ideal choice. Each ship will be equipped with two of ALSTOM’s electric motors each with a rated power of 20,000 kW / 145 rpm. ALSTOM is also to supply the main and auxiliary generators, the 11 kV main switchboard, the induction motors for thrusters and compressors and all the Synchrodrive and control units dedicated to the electric propulsion. The ships will be delivered to the shipowner from 2003.

Siemens, Mitsubishi Challenge GE with Alstom Offer

Germany's Siemens and Japan's Mitsubishi Heavy Industries presented a joint offer to France's Alstom on Monday that included 7 billion euros ($9.5 billion) in cash, challenging a bid by General Electric. Under the deal, Siemens offered to buy Alstom's gas turbines business for 3.9 billion euros in cash, and MHI to buy stakes in Alstom power assets including hydroelectric power equipment and grid, to be held in separate joint ventures. MHI would inject 3.1 billion euros in cash into Alstom and offer to take a stake of up to 10 percent in the French firm from shareholder Bouygues. "Alstom would remain an independent energy and transport player with a strong brand," Siemens Chief Executive Joe Kaeser said. Alstom said it would review the proposal in the coming days.

Siemens Asks Alstom For More Info

 French Economy Minister Arnaud Montebourg

Germany's Siemens wrote to Alstom on Tuesday asking for more information ahead of a likely offer for the French company's power business, French Economy Minister Arnaud Montebourg said. Alstom is already in talks with U.S. conglomerate General Electric over a 12.35 billion euro ($16.9 billion) bid for its power arm, which it is due to review by June 2. Under pressure from the French government, however, it has opened its books to Siemens as well. Sources have told Reuters that…

GE In Talks To Buy Alstom's Power Arm

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U.S. industrial conglomerate General Electric Co is in advanced talks to buy the global power division of struggling French engineering group Alstom SA for about $13 billion, sources familiar with the matter said on Friday. Sources said a deal was backed by Alstom's main shareholder, French conglomerate Bouygues with 29 percent, and could be announced in the coming days after an Alstom board meeting on Friday afternoon. The board was due to meet again on Sunday to discuss the transaction, French daily Le Figaro said.

First Mermaid Pods Installed

Shipyard ALSTOM awarded ALSTOM Drives & Controls and Kamewa a contract to supply electric propulsion packages for the four Millennium series cruise ships for Celebrity Cruises — a subsidiary of Royal Caribbean International — the first two Mermaid propulsion systems have been successfully mounted on the first ship. In not more than 24 hours, the two Mermaids have been adjusted in the drydock then the ship was moved into the wetdock for testing. Each Mermaid has a rated power of 19,500 kW - 150 rpm, which constitutes a world first in the field of podded electric propulsion solutions. Mermaid is the new podded electric propulsion system jointly developed by ALSTOM and Kamewa.

Council Approves Deal Alstom General Electric

  The board of Alstom unanimously approved the offer from General Electric to buy its energy business, said Saturday the French industrial group in a statement. The final proposal, which won approval Friday from the French government, "not only addresses the interests of Alstom and its shareholders but also provides security in relation to the concerns expressed by the French state," Alstom said.  (Reporting by Laurence Frost)

Siemens And France Weigh In As GE Eyes Alstom Deal - Update

Siemens and the French government intervened in General Electric's plan to buy the power arm of Alstom on Sunday with an alternative European "champions" tie-up proposal and a pledge to act inFrance's national interest. Though French trains-to-turbines maker Alstom is privately owned, firebrand Economy Minister Arnaud Montebourg issued a stark reminder of the influence the government holds over a company that relies heavily on orders from state rail operator SNCF and partly state-owned utility EDF. "GE and Alstom have their calendar, which is that of shareholders, but the French government has its own, which is that of economic sovereignty," Montebourg said in a statement, providing the first official confirmation of GE's offer.

MAN Acquires Alstom Diesel Engine Ops

Engineering companies Alstom of France and MAN of Germany have agreed terms for the acquisition by MAN of ALSTOM's Diesel engines business. Through this acquisition, the MAN Group will strengthen its activities in the field of large diesel engines. MAN B&W Diesel AG, Augsburg, will take over ALSTOM Engines Ltd. of the U.K. with its brands Ruston, Paxman and Mirrlees Blackstone. ALSTOM Engines Ltd. supplies on a worldwide scale medium and high speed Diesel and gas-fuelled engines with outputs ranging from 500 kW to 15,000 kW, which are primarily incorporated into fast ferries, navy and coast guard ships, luxury yachts, locomotives, power stations and packaged generator sets. Alstom Engines Ltd.

Alstom Accepts 10 Bln Euro GE Bid For Its Energy Unit

Brand

The board of Alstom accepted General Electric's 10 billion euro ($13.82 billion) bid for its energy unit on Tuesday, several sources familiar with the situation told Reuters. Sources said GE is not in exclusive talks with Alstom. The French transport-to-turbines group is also set to receive an offer from its much larger German competitor Siemens AG , which said it had sent a letter to Alstom after its managing and supervisory boards had decided to make an offer. Alstom is expected to make a statement about the two offers early on Wednesday…

France Expects Better GE Offer For Alstom

French Finance Minister Michel Sapin

France expects General Electric to boost its bid for Alstom's power unit in response to a potential joint offer from Siemens and Mitsubishi Heavy Industries, Finance Minister Michel Sapin said on Sunday. Siemens and Mitsubishi are putting the finishing touches on an offer for Alstom's turbine businesses, including a cash element of roughly 9 billion euros ($12.3 billion), according to sources close to the bidders. That compares with the U.S. conglomerate's existing offer of 12.4 billion euros ($16.9 billion) for all of Alstom's energy assets.

Siemens Weighs In As GE Prepares Alstom Power Deal

Alstom's arch rival Siemens wants talks with the struggling French engineering group, the German company said on Sunday, the day General Electric boss Jeff Immelt is due in Paris to thrash out a deal to buy Alstom's global power arm. Siemens said in a statement that it had written a letter to "signal its willingness to discuss future strategic opportunities" with the French group. France's government has said it wants to find alternatives to the GE offer, which sources say puts a value of $13 billion on the turbines and power grid equipment business and could be announced in days. Economy Minister Arnaud Montebourg said last week that he plans a meeting with Immelt.

GE in talks to buy Alstom's global power arm-sources

General Electric is in talks with Alstom to take over its global power business and a deal could be announced in the coming days, two sources familiar with the matter said on Friday. No price tag was given for the deal, which could be announced in the coming days, according to the sources. The power business accounts for nearly three quarters of Alstom's 20.3 billion euro revenue. One of the sources said the approach was initiated by Alstom and that its top shareholder Bouygues - which has a 29 percent stake - backed the proposed deal. Alstom declined to comment. Bouygues could not immediately be reached for comment. Reporting by Matthieu Protard, Benjamin Mallet; and Natalie Huet

ALSTOM Wins Carnival Contract

The Power Conversion Business of ALSTOM has been awarded a multi-million euro contract by Fincantieri to supply electric propulsion systems for two new cruise ships, one for Carnival Cruises to be built at the Marghera yard and one for Costa Crociere at the Sestri Ponente yard in Genoa. Both ships are to be delivered in the first half of 2007 and are the sister ships of Carnival Liberty and Costa Concordia, currently being built at Fincantieri - with an ALSTOM electric propulsion system - and expected to be delivered in Summer 2005 and Summer 2006 respectively. The new ships will be used for year-round worldwide cruising. The Carnival cruise ship will carry 3,710 passengers and the Costa 3,800 passengers.

Merkel Says Siemens-Alstom Is Above All Corporate Decision

Chancellor Angela Merkel

Chancellor Angela Merkel said on Saturday that the German government would positively accompany a tie-up between Siemens and Alstom but said that any link would be first and foremost a corporate decision. Speaking at a news conference with French President Francois Hollande in the Baltic town of Stralsund, Merkel said the German government, at least, does not want to intervene in the corporate decision-making. She said Siemens first has to come forth with an offer. Alstom is the target of a takeover bid from U.S. giant General Electric.

GL RC Certifies Alstom Tidal Turbine Prototype

Tidal energy is a new realm of renewable energy. As technology advances, GL Renewables Certification (GLRC) is contributing its expertise by certifying Alstom’s tidal turbine prototype. Certification of tidal turbines is one of the key development areas for the tidal industry in the future, and represents a major milestone for Alstom on the REDAPT project. GL RC and Tidal Generation Limited (TGL, now rebranded Alstom) have worked closely together to achieve ‘C-Design Assessment’ certification for Alstom’s full-scale 1MW tidal turbine. “The certification was carried out according to our Guideline for the Certification of Ocean Energy Converters,” said Andreas Schroeter, Managing Director GL Renewables Certification.

MAN Acquires Alstom Diesel Engine Ops

Engineering companies Alstom of France and MAN of Germany have agreed terms for the acquisition by MAN of ALSTOM's Diesel engines business. Through this acquisition, the MAN Group will strengthen its activities in the field of large Diesel engines. MAN B&W Diesel AG, Augsburg, will take over ALSTOM Engines Ltd. of the U.K. with its brands Ruston, Paxman and Mirrlees Blackstone. ALSTOM Engines Ltd. supplies on a worldwide scale medium and high speed Diesel and gas-fueled engines with outputs ranging from 500 kW to 15,000 kW, which are primarily incorporated into fast ferries, navy and coast guard ships, luxury yachts, locomotives, power stations and packaged generator sets. Alstom Engines Ltd.

Alstom Posts 19 Percent Gain In Sales

French turbines to trains group Alstom posted a 19 percent rise in sales to 6.05 billion euros in its first quarter to June, boosted by the full consolidation of its power business and gains in transport. Alstom shares, among the top performers on the French benchmark index this year, pushed higher on the news, trading up 4.10 percent at 33.50 euros at 0745 GMT, and outperforming the DJ Stoxx European industrials index, which was up 0.07 percent. Company officials said on Friday that new orders surged 36 percent to 6.22 billion euros during the three-month period which ended June 30, boosting its order backlog to a record 39.5 billion euros.

ABB Gets EU Nod For Alstom Venture

ABB Asea Brown Boveri Ltd reportedly received approval from the European Commission to complete a proposed 50-50 joint venture with France's Alstom SA.

France Picks: GE is the One for Alstom

France chose General Electric to form an alliance with Alstom on Friday - rejecting an offer from Siemens and Mitsubishi Heavy Industries - but said the deal still needed some work and added it would buy a 20 percent stake in the hotly-contested company. Economy Minister Arnaud Montebourg said he had used a newly- created state decree to reject both of the existing offers as not being in France's strategic interest, and had formulated fresh demands to GE Chief Executive Jeff Immelt. The decision ended weeks of suspense surrounding one of Europe's fiercest industrial battles in years, but left open major questions about the final shape of an alliance which GE hopes will give it access to new power markets.

Alstom To Build P&O Cruise Ships

Alstom won an order from P&O for two 1,000 cabin, 88,000 ton cruise ships. Although a price was not given for the deal, based on the current price range for cruise ship tonnage it is safe to estimate that the cumulative price is from $750 and $800 million. Alstom said it now had 13 firm and two optional orders for cruise ships in its order book.

Alstom To Build P&O Cruise Ships

Alstom won an order from P&O for two 1,000 cabin, 88,000 ton cruise ships. Although a price was not given for the deal, based on the current price range for cruise ship tonnage it is safe to estimate that the cumulative price is from $750 and $800 million. Alstom said it now had 13 firm and two optional orders for cruise ships in its order book.

Mediterranean Shipping Takes Another Cruise Ship

Mediterranean Shipping Co had exercised an option with Alstom for a second 793-cabin cruise liner to be delivered in 2004. Although Alstom declined to give the value of the contract, industry sources put the value of the liner in the region of 300 million euros ($279.1 million). The company’s Alstom Marine unit now has 11 cruise ships in its order book.

Maritime Reporter Magazine Cover Apr 2018 - Offshore Energy Annual

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